Hasbro Sale Boosts

Wed., Feb. 11, 1998

From Staff And Wire Reports

Time Warner profits New York As its fourth-quarter earnings nearly quadrupled, Time Warner Inc. predicted Tuesday that its sluggish music business will turn around this year.

The quarterly results were buoyed by a $200 million gain from Time Warner’s sale of its interest in toymaker Hasbro Inc.

Time Warner earned $216 million, or 22 cents per share on a diluted basis, in the last three months of 1997. The company earned $59 million, which amounted to a loss of 3 cents per share, in the same period last year.

Revenue climbed 4 percent to $3.84 billion from $3.70 billion.

The gain from the Hasbro sale was offset slightly by a $31 million charge to pay off debt.

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Hasbro Sale Boosts

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